HK Stock Market Move | Restaurants stocks rebounded in the morning session. It is expected that the dining coupon policy will be expanded this year. Institutions say the restaurant sector has a strong resilience for recovery.

In the early trading session, the catering stocks rebounded. As of the time of writing, JIUMAOJIU (09922) rose by 5.9% to 2.87 Hong Kong dollars; HELENS (09869) rose by 5.7% to 2.04 Hong Kong dollars; YUM CHINA (09987) rose by 3.16% to 339.8 Hong Kong dollars; HAIDILAO (06862) rose by 2.46% to 14.14 Hong Kong dollars. On the news front, according to reports, more than 10 provinces have announced the start of a new round of consumer voucher distribution since the beginning of this year, including Jiangsu, Zhejiang, Anhui, Hubei, Henan, Fujian, and Guangdong. Huatai pointed out that last year, many places issued consumer vouchers for non-durable goods and services such as supermarkets, accommodation, and catering, stimulating some high-frequency, low-value consumption. Consumer voucher subsidies are mainly funded by local government finances, with individual city subsidies often not large in scale, but they may be potential targets for expansion this year, and are also one of the current market's focus points. CITIC SEC's research report believes that the central government attaches importance to domestic demand, and has a clear attitude towards stimulating consumption. The catering sector, as a representative of the cyclical industries, directly benefits from this, with significant repair elasticity. Leading players in the end catering sector have already raised prices, reflecting a generally stable competitive environment, and a low likelihood of intensifying price wars. Most raw material supplies are abundant, with weak price expectations, which is positive for downstream profit improvement. The catering supply chain sector will directly benefit from the recovery of downstream catering, and is optimistic about demand improvement and competition easing by 2025, but performance may vary among different sub-sectors. It is recommended to select based on sector and company considerations.